Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, Consumer Durables, FMCG, IT, Metals, Oil, PSU, Realty, Tech, Auto & Healthcare have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)                                                                     

Last Close - 17613.99 | Support - 17494, 17287  | Resistance - 17953, 18327

Trading Range - The Sensex opened at 17259.65, moved up to an intra-day high of 17704.83, declined to an intra-day low of 17171.45 and closed at 17613.99. 

Review/Outlook - The Sensex has had a mixed trading session, has had a weak opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended mildly in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 17632 level while resistance at higher levels (18032) – would limit the upside. The outlook has turned bullish again while resistance comes in at the 20800+ level and support comes in at the 16800 level. 

Hoec. (Daily)                                                  

Last Close - 117.00 | Support - 109, 199 | Resistance - 127, 149

Trading Range - The scrip opened at 107.00, moved up to an intra-day high of 117.00, declined to an intra-day low of 107.00 and closed at 117.00.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.   

Bombay Burmah. (Daily)                                                        

Last Close - 621.95 | Support - 618, 469 | Resistance - 661, 769

Trading Range - The scrip opened at 619.70, moved up to an intra-day high of 621.95, declined to an intra-day low of 610.45 and closed at 621.95.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.   

Birla Kennametal. (Daily)                                                

Last Close - 484.35 | Support - 482, 364 | Resistance - 538, 560

Trading Range - The scrip opened at 483.95, moved up to an intra-day high of 484.35, declined to an intra-day low of 449.00 and closed at 484.35.

Review/Outlook – The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.       

Karuturi Network. (Daily)                                                    

Last Close - 194.85 | Support - 172, 160 | Resistance - 218, 240

Trading Range - The scrip opened at 187.90, moved up to an intra-day high of 184.85, declined to an intra-day low of 187.90 and closed at 194.85.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.     

Daily Stock Track          

GLOSSARY : CMP - Current Market Price, MACD - Moving Average Convergence Divergence, RMI - Relative Momentum Index, RSI - Relative Strength Index, ROC - Rate of Change, EMA - Exponential Moving Average, Cls - Closing Price, Support - Level where buying can be expected, Resistance - Level where selling can be expected, Tu - Turning Upwards, Td - Turning Downwards, Sd - Sideways, Up - Uptrend, Dt - Downtrend, Ob - Overbought, Os - Oversold.

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Sebi Disclosure: The author is an active market participant and could not only be having positions but could even be having contrary positions in the stocks mentioned above.